Before the jobs release, the pair had traded to its highest level since May 22, reaching 1.3879. However, the disappointing data triggered a sharp decline, taking the price back below the 100-day moving average at 1.3818. Notably, this level had been breached to the upside yesterday for the first time since April, making the reversal technically discouraging.
On the downside, the decline saw the price moved back into the range that could find the pair until this week (see the red box on the chart above). However, once the reached the swing area between 1.3749–1.3760, buyers have reentered. The low today reached 1.3762, before bouncing modestly. The current price is around 1.3786. Getting back above the 1.3797 level and staying above would be needed to show that the buyers and sellers are still battling, with the buyers still in play.
While the failure to extend higher is a negative technical signal, tariff-related downside risks for the Canadian economy may help limit further CAD strength. That said, the tariffs may also weigh on the U.S. economy, complicating the broader outlook. The combination from the uncertainties, leads toward the need to watch the section and the technicals for the trading clues.
This article was written by Greg Michalowski at investinglive.com.Hence then, the article about usdcad dips on disappointing us jobs data tariff concerns linger was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( USDCAD dips on disappointing US jobs data, tariff concerns linger )
Also on site :